Aid and public sector borrowing in developing countries

Feeny, S and McGillivray, M 2003, 'Aid and public sector borrowing in developing countries', Journal of International Development, vol. 15, no. 8, pp. 989-999.


Document type: Journal Article
Collection: Journal Articles

Title Aid and public sector borrowing in developing countries
Author(s) Feeny, S
McGillivray, M
Year 2003
Journal name Journal of International Development
Volume number 15
Issue number 8
Start page 989
End page 999
Total pages 11
Publisher John Wiley and Sons
Abstract This paper analyses the relationship between public sector borrowing and foreign development aid. It is concerned specifically with the public sector borrowing requirement net of aid, questioning the assumption that aid and this type of borrowing are substitutes for one another. After looking at the public sector budget constraint and various conditions under which aid might lead to an increase in this borrowing, the paper surveys the empirical results of literature on aid and public sector fiscal behaviour. It finds that the results of a number of studies are consistent with aid leading to increases in this borrowing. Further investigation, in the form of econometric analysis of panel data, also points to this outcome.
Keyword(s) aid flow
capital provision
developing world
public sector
DOI - identifier 10.1002/jid.1028
Copyright notice © 2003 John Wiley & Sons
ISSN 0954-1748
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